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Garland Law Offices, P.A.
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“Many clients planning for long-term care are anxious about the consequences of using the Medicaid long-term care program to finance their long-term care, and rightfully so.” Many people in Texas are afraid that if they access benefits, the Medicaid Estate Recovery Program will automatically take their home when they die.... Continue reading
Posted yesterday at Garland Law Offices, P.A.
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“Elder abuse is an under-reported crime that preys on the people who worked hard to build our communities.” Several pieces of legislation in New York are being considered that are aimed at helping health care workers and bank employees identify abuse and fraud, so they can notify the authorities. The... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“When you leave a home to loved ones, they get a step-up in basis which means tax savings.” It’s not uncommon for a family to have questions about the taxes on a property that is inherited at the death of a surviving spouse. This involves the property’s cost basis, which... Continue reading
Posted 3 days ago at Garland Law Offices, P.A.
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“Here are three secrets about retiring that no one wants to talk about but that you need to hear.” Aging Edge’s recent article, “Retirement secrets no one wants to talk about,” says there’s a lot more to retirement than you might think. If you don’t plan carefully, you may see... Continue reading
Posted 4 days ago at Garland Law Offices, P.A.
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“Most families prepare for the unthinkable with a will, but today, it is just as important for families to prepare for the end of their digital life.” Fox 11 News in West Palm Beach, FL, details the problems Karen Prangley had with her dad's unexpected death in its report, “Dealing... Continue reading
Posted 5 days ago at Garland Law Offices, P.A.
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“Edward Albee died last fall. However, the renowned playwright is making one last request from the great beyond.” Albee asked two friends to destroy any incomplete manuscripts he left behind, says The New York Times in “Edward Albee’s Final Wish: Destroy My Unfinished Work.” These instructions were included in Albee’s... Continue reading
Posted Aug 11, 2017 at Garland Law Offices, P.A.
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“Unfortunately, you can't bank on the traditional idea that your tax bill will go down in retirement. Therefore, get a plan in place now.” When people think about the biggest threats to their retirement plans, they often say outliving their wealth, health insurance costs, nursing home expenses and needing to... Continue reading
Posted Aug 10, 2017 at Garland Law Offices, P.A.
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“Just because you’re retiring single doesn’t mean financial planning isn’t important. In fact, because planning for retirement is solely on your shoulders, having a comprehensive financial plan is critical to help you maximize your independence in retirement.” Conversations about financial planning are often positioned in the context of how married... Continue reading
Posted Aug 9, 2017 at Garland Law Offices, P.A.
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“When was the last time that you took a look at or updated your estate planning documents?” A recent survey found that the average time between estate plan updates was about 20 years! Many people draft their first will when the kids are small and then update it when the... Continue reading
Posted Aug 8, 2017 at Garland Law Offices, P.A.
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“Find out what you need to know, to make this key IRA decision.” A big decision for retirement savers is whether to invest with a traditional IRA or a Roth IRA. Both have pluses and minuses, and both can play a feature role in your overall retirement planning. Motley Fool’s... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“Part of ensuring that you are remembered is through proper estate planning. It may be as simple as a will, or it may involve complicated trusts, estate tax strategies, or the succession of a family business.” With the change of seasons after Memorial Day, it’s the unofficial day that kicks... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“You've saved like crazy in your tax-deferred accounts, but all that money isn't really yours. Some of it belongs to Uncle Sam, and in the future he may be hungry for more. Here are two strategies to curb your future tax bill.” “Your 401(k), 403(b) and IRA: Tax Shelter or... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“To estimate the cost of the trust, an attorney would need to know the complexities of your situation.” NJ.com’s recent post asks “What does it cost to create a trust?” The article goes on to explain that there are too many factors involved with each person’s specific situation to provide... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“Will your legacy be a benefit or a burden to your loved ones? It depends on how well you've planned.” We’re all going to die one day. The legacy that you leave can either simplify the process of dealing with your personal and financial property, or it can be a... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“While you may already have POAs in place, several legislative changes over the years have given financial institutions and healthcare providers reasons to reject them.” One key component of a solid financial plan is properly configured estate planning documentation—especially medical and financial powers of attorney (POA). These documents give you... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“Estate planning is a key element in any financial plan no matter what your age.” Estate planning allows you to decide how your assets should be distributed when you die, says CBS Boston’s article, “The Boomers’ Kids: Estate Planning.” Remember, for those of you who are under 40, dying isn’t... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“Money is supposed to provide a security blanket, not a blank check.” Many parents believe that it’s an act of love or generosity to leave their children an inheritance. Some also think that the more money they leave, the better. Forbes’ recent article, “Why Not To Leave Too Much To... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“An Ivy League-educated, polo-playing author from The Plains misused almost $650,000 from an elderly friend’s trust funds, a Fauquier judge has ruled.” Philip Jay Fetner argued that eight years ago, his friend and neighbor Stephen S. Roszel VI knowingly and willingly invested in the second printing of his book, The... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“Most couples can benefit from estate planning to ensure their assets land in the right hands after they die and their health care wishes are followed. But same-sex couples often have special situations that require extra planning.” The Palm Beach Post’s recent article, “Estate Planning 101 for Same-Sex Couples,” lays... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“It’s always a big story when top celebrities die. When they leave the scene without preparing for the proper distribution of their assets, they continue to generate embarrassing headlines as their heirs fight over money and property.” The New Haven (CT) Register’s recent article, “Even celebrities fail at estate planning,”... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“In the past, women tended to rely on their husbands for financial stability. These days, though, a woman has to look out for herself.” No woman wants to imagine how her life might change in the event of death or divorce. However, a third of widows lose their spouses before... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“More than $30 trillion in wealth will be passed on from one generation to the next over the 10 years.” The biggest wealth transfer in the history of the U.S. has started, says Delaware Online in “You've just inherited a million dollars. Now what?” Baby Boomers, who are the biggest... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“What must my children do to prove the houses are theirs, in order to sell them?” A widow’s will leaves everything equally to her four children. She has two homes in two different states. How will those homes get transferred legally to her children? Newsday explains this in its recent... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“What's a revocable trust, and how does it work?” A revocable trust or living trust can be a wonderful way to create an estate plan for you and your family. These trusts are flexible legal documents that can be modified during your lifetime. When they become irrevocable, they will protect... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.
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“Do-it-yourselfers need to be careful not to trip over these common hurdles, as they craft their own last will and testament.” All experienced estate planning attorneys have seen what happens when people draft their own wills. Kiplinger’s recent article, “5 Avoidable Mistakes in the Will You Write,” says that if... Continue reading
Posted Aug 7, 2017 at Garland Law Offices, P.A.